Rabobank, Dutch govt to fund Sri Lanka vocational school, rural bridges

BRIDGE FINANCING: Sri Lanka Treasury Secretary R. H. S. Samaratunga and Director- Rabobank, Han Bartelds shakes hands while Ambassador of theNetherlands Tanja Gonggrijp looks on.

ECONOMYNEXT – The Netherlands based Rabobank is providing 70.7 million Euros (14.1 billion rupees) in funds to build a vocational school and rural bridges in Sri Lanka.

The National Vocational Training Institute at Hingurakgoda, Polonnaruwa, the finance ministry said.

“Government has accorded high priority for connectivity improvement within the country with a view to providing full benefits from mainstream development activities in the country to the remote villages as well,” the finance ministry said.

The Rabobank will provide two export credit facilities to cover 75 percent of the contract cost of each project,

The Development Related Infrastructure Investment Vehicle (DRIVE) of the Dutch Government will give a grant for the balance 25 percent.

The credit agreements were signed by the Secretary to the Ministry of Finance, R H S Samaratunga and Director- Rabobank, Han Bartelds. (Colombo/Oct16/2019)